TC Energy reports $963-million quarterly profit

TC Energy Corp. TRP-T says it had a net income of $963 million in the second quarter, up from $250 million in the same quarter last year.

Earnings worked out to 93 cents per share for the quarter ending June 30, up from 24 cents per share for the same quarter last year.

The increase in earnings was due in part to a significant loss on its Canadian natural gas pipeline segment last year.

Adjusted earnings came in at $978 million, down slightly from $981 million for the same quarter last year.

Revenues were $4.09 billion, up from $3.83 billion for the same quarter last year.

The company declared a dividend of 96 cents per common share, up from the 93 cents it declared last year.